80
80
Oct 13, 2013
10/13
by
KQED
tv
eye 80
favorite 0
quote 0
was president -- raising the debt ceiling does not increase our debt? >> well, on one level, he's right. but in a real sense, he's not right, okay? why do we have to raise our debt zealing? because we're spending more money than we're taking in. at some point, you reach the ceiling and you have to move on or else you can't do it. >> congress and the president raised the debt ceiling. >> of course. it's not done exclusively by the president. but you can't just say that, you know, accumulating all of these debts has no consequence. one of the consequences is it runs into a debt ceiling. ask any family in america. they will tell you what their debt ceiling is. >> these are obligations already incurred for which you have to pay. so the debt is already incurred. we haven't yet printed a treasury bond to make good on that. >> you don't think he was being disingenuous? >> no, no. technically, and in the spirit of it, he's absolutely right. >> talking about disingenuity, the republican party is claiming they are so obsessed and worried about the deficit, they s
was president -- raising the debt ceiling does not increase our debt? >> well, on one level, he's right. but in a real sense, he's not right, okay? why do we have to raise our debt zealing? because we're spending more money than we're taking in. at some point, you reach the ceiling and you have to move on or else you can't do it. >> congress and the president raised the debt ceiling. >> of course. it's not done exclusively by the president. but you can't just say that, you...
101
101
Oct 13, 2013
10/13
by
KQED
tv
eye 101
favorite 0
quote 0
the debt ceiling will have a profound effect on the economy. not just the shutting of the monuments and the none i'll of payments here and there. -- and the denial of payments here and there. i think the parties deserve equal blame. months, you will jeopardize the credit, you will give other countries an opportunity to look for another reserve currency. you look for the one person you saw first. he is the president. i'm just talking about the political effects. not who is to blame. that is what i think the president has offered -- he offered this on tuesday in the press conference. jay carney was asked outright, if you are asked to short-term -- if you were offered a short- term extension of the debt ceiling, would you do it? jay carney answered yes. look at the transcript. they reason they answered yes was every day you approach the debt limit, it is very -- >> now they want to walk back. ofnow they have an offer november 22. willt the question is, they open up the government? >> put yourself in the position of a member of congress. whether yo
the debt ceiling will have a profound effect on the economy. not just the shutting of the monuments and the none i'll of payments here and there. -- and the denial of payments here and there. i think the parties deserve equal blame. months, you will jeopardize the credit, you will give other countries an opportunity to look for another reserve currency. you look for the one person you saw first. he is the president. i'm just talking about the political effects. not who is to blame. that is what...
89
89
Oct 6, 2013
10/13
by
KQED
tv
eye 89
favorite 0
quote 0
ceiling -- of the debt ceiling. he knows what the consequences could be if we default. john boehner can get the votes to raise the debt ceiling. >> democratic votes. some democratic and republican votes. what he will get is credit for avoiding this catastrophe. that should be more to the speaker not because of him personally but to the leadership if he pulls that off. >> he has been fooling -- falling back on the has stirred rule.terd it may be a defensive or an offense of thing. figure johnc boehner is becoming. coming in as the son of the barkeep who swept the floor and with 11 brothers and sisters. he wept at the time and he must be weeping now. to go outstion is if with a blaze of glory, i am going to give it my speakership but we are going to move past this impasse and it must be attractive to him. it is not like the job is that great. you're hanging onto a job where are subject to ritual humiliation. >> this is his moment. >> the rollout of obamacare. competition, more and more prices. most uninsured americans
ceiling -- of the debt ceiling. he knows what the consequences could be if we default. john boehner can get the votes to raise the debt ceiling. >> democratic votes. some democratic and republican votes. what he will get is credit for avoiding this catastrophe. that should be more to the speaker not because of him personally but to the leadership if he pulls that off. >> he has been fooling -- falling back on the has stirred rule.terd it may be a defensive or an offense of thing....
70
70
Sep 28, 2013
09/13
by
KQED
tv
eye 70
favorite 0
quote 0
what happens with the debt ceiling is -- first of all it's important to remember the debt ceiling is not about controlling spending or controlling the deficit. it's about whether you pay the bills you've already run up and once you hit the debt ceiling, things like social security checks would cease to go out and our credors around the world, there's a -- creditors around the world, there's a real chance of a global meltdown. >> here's the thing about public opinion on this. public opinion is on the first one, don't shut the government down but if you look at the polls on the debt ceiling, people believe it should actually be tied to some kind of budget compromise because the feeling naturally is if you can't pay your credit card you have to figure out a way to tighten your belt and even the president today in making comments about this said remember the good old days two years ago when we had that fight over the debt ceiling? at least then he said we were talking about reducing the deficit. he said now this isn't about reducing the deficit, although republicans think obowl care will
what happens with the debt ceiling is -- first of all it's important to remember the debt ceiling is not about controlling spending or controlling the deficit. it's about whether you pay the bills you've already run up and once you hit the debt ceiling, things like social security checks would cease to go out and our credors around the world, there's a -- creditors around the world, there's a real chance of a global meltdown. >> here's the thing about public opinion on this. public...
120
120
Oct 15, 2013
10/13
by
KQED
tv
eye 120
favorite 0
quote 0
debt ceiling debate is in all the chinese papers. this one says, the clock is ticking, china urges the united states to clean up its debt problems, and this one says that the us debt ceiling is ruining america's credibility. in one editorial, the news agency called for a new de-americanized world order. but america is not the only one being blamed. people here are angry at their own government too. chinese politicians need to do something about this he says. china maintains controls on its currency helping to support exporters here. so it has ammassed huge dollar reserves and can't do anything about it other than invest in treasuries, $2.3 million worth. they are looking at the surprised public. america sees itself as a super power, he says, now we know they're injury like everybody else. for nightly business report, in beijing. >> still ahead on the program, why the government shutdown is forcing one rural family into a more expensive mortgage. paying more for a new home than they ever expected. first, we'll look at how the markets
debt ceiling debate is in all the chinese papers. this one says, the clock is ticking, china urges the united states to clean up its debt problems, and this one says that the us debt ceiling is ruining america's credibility. in one editorial, the news agency called for a new de-americanized world order. but america is not the only one being blamed. people here are angry at their own government too. chinese politicians need to do something about this he says. china maintains controls on its...
64
64
Oct 3, 2013
10/13
by
KQED
tv
eye 64
favorite 0
quote 0
, over the debt ceiling does not help. the government shutdown is that enough but failure to raise the debt ceiling would be far worse. and could very sears the damage that only the u.s. economy -- very seriously damage not only the u.s. economy, but the global economy. >> while congress continues to there is onending, country caching in. >> republican opposition to obama care is at the heart of the government shutdown. museums, memorials, parks and zoos have been forced to shut their doors. india.ning new doors in the indian generic medicine industry is gearing up for a huge boost of demand in the u.s.. nearly 40% of the drugs used in the u.s. comes from india and it is going to get bigger. >> we see a tectonic change in generic consumption and pharmaceuticals that will happen in the united states. being a big provider of that kind of product to the world, india stands to gain significantly. >> more and more doctors in the u.s. are now prescribing generic drugsw. >> because of obama care, now the dollar amount that is bei
, over the debt ceiling does not help. the government shutdown is that enough but failure to raise the debt ceiling would be far worse. and could very sears the damage that only the u.s. economy -- very seriously damage not only the u.s. economy, but the global economy. >> while congress continues to there is onending, country caching in. >> republican opposition to obama care is at the heart of the government shutdown. museums, memorials, parks and zoos have been forced to shut...
75
75
Oct 18, 2013
10/13
by
KQED
tv
eye 75
favorite 0
quote 0
substantively if you don't address the debt ceiling you're going to increase the debt ceiling and at some point people will make you pay so much for it you can't afford it. >> rose: the president shouldn't have insisted on non-negotiations. >> should have been in the middle, should have been in a room talking about things they could fix like entitlement reform, like tax reform. >> rose: that's what the president says they will do now. and that's basically what he said was look, open up the government. extend the debt ceiling and we'll get in a room and talk. >> well that's what happened, that's what should have happened beforehand. they wasted a couple weeks when really good things could happen. for example paul ryan put on the table about a week and-a-half ago a way to get out of this which was to take the president's proposals on entitlement reform which are fairly significant. and take a pathway to tax reform, merge them together and have package. that's a pretty good deal as far as i could see. >> rose: john boehner says we're not going to buy any tax increases. >> the issue isn'
substantively if you don't address the debt ceiling you're going to increase the debt ceiling and at some point people will make you pay so much for it you can't afford it. >> rose: the president shouldn't have insisted on non-negotiations. >> should have been in the middle, should have been in a room talking about things they could fix like entitlement reform, like tax reform. >> rose: that's what the president says they will do now. and that's basically what he said was...
512
512
Dec 14, 2013
12/13
by
KQED
tv
eye 512
favorite 0
quote 0
raise the debt ceiling. republicans have historically used it for leverage. the administratige and harry reid's line is there is no negotiating around the full faith and credit of the united states. we'll see if republicans feel about the chance of default the way they do about the chance of shutdown. >> a much higher percentage of democrats supported this deal than republicans. is it fair to look at john boehner and nancy pelosi and say one leader has control over his caucus and can deliver the votes and one is struggling to do that? >> that has been the case for years. gwen: except he delivered the votes this time. >> he did but not in as high a proportion as pelosi did. >> pelosi is a very good leader of her caucus, no question about it. but getting back to the debt ceiling, if that fight comes and we see the same kind of brinksmanship over a national default, that is the rupture that occurred between the business community and republicans and so that's what has sent the u.s. chamber into these primaries
raise the debt ceiling. republicans have historically used it for leverage. the administratige and harry reid's line is there is no negotiating around the full faith and credit of the united states. we'll see if republicans feel about the chance of default the way they do about the chance of shutdown. >> a much higher percentage of democrats supported this deal than republicans. is it fair to look at john boehner and nancy pelosi and say one leader has control over his caucus and can...
258
258
Oct 10, 2013
10/13
by
KQED
tv
eye 258
favorite 0
quote 0
everybody is scared to death at the debt ceiling. nobody wants to be held accountable for what happens after that, what happens to the country and i think americanism has briefly taken over partisanship on that particular issue. the c.r. is a little more -- to some members who --. >> woodruff: again, the spending. >> yes, continuing the spending issues, a lot of members in the republican conference don't feel that as much in their districts but remember this: you've got 25 30 members that this is hurting them. they're in marginal seat, they have a lot of federal employees and they're tired of going along with this. >> woodruff: 25 or 30 republicans? >> right, in swing seats. >> woodruff: norm, could this be the beginning of a resolution or what do you think? >> the problem with the deal is we get more brinksmanship in six weeks or so. the initial deal that was proposed by paul ryan and then speaker boehner was to take a six-week extension in the debt limit now take away all the flexibility from the treasury during that period of time
everybody is scared to death at the debt ceiling. nobody wants to be held accountable for what happens after that, what happens to the country and i think americanism has briefly taken over partisanship on that particular issue. the c.r. is a little more -- to some members who --. >> woodruff: again, the spending. >> yes, continuing the spending issues, a lot of members in the republican conference don't feel that as much in their districts but remember this: you've got 25 30...
193
193
Jan 8, 2013
01/13
by
KQED
tv
eye 193
favorite 0
quote 0
government debt, u.s. government bonds again. >> you fast forward to the debt ceiling. i think that's the mirror image of the fiscal cliff. because the default, if nothing happens, is that the debt ceiling is not raised. what that means it doesn't mean, as some who would demagogue this issue suggest, i doesn't mean a default on our debt. whatnot raising the debt ceiling would mean is a partial government shutdown. roughly 40 cents of every dollar the federal government spends is borrowed. if you don't raise the debt ceiling, that 40 cents is temporarily stopped. now we did that in 1995. we didn't default on our debt. >> woodruff: right. the result was balanced budgets and some of the greatest fiscal responsibility was seen we've seen in modern times from congress because fiscal conservatives stood together and said we need to be responsible. >> woodruff: let me ask you about a couple of other issues. that is guns. you're a long-time proponent of gun rights. you're the father of two young girls ages 4 and 2. after those terrible shootings at that h elementary school in c
government debt, u.s. government bonds again. >> you fast forward to the debt ceiling. i think that's the mirror image of the fiscal cliff. because the default, if nothing happens, is that the debt ceiling is not raised. what that means it doesn't mean, as some who would demagogue this issue suggest, i doesn't mean a default on our debt. whatnot raising the debt ceiling would mean is a partial government shutdown. roughly 40 cents of every dollar the federal government spends is borrowed....
158
158
Jan 15, 2013
01/13
by
KQED
tv
eye 158
favorite 0
quote 0
: markets are almost treating the fight over the debt ceiling as the sequel to a bad movie. and investors have a pretty good feel for how this cliffhanger ends. >> they don't really care about the brinksmanship until they are right up to the brink, but also, the more dangerous the fall, off the brink, they figure the less likely that it's going to happen. >> reporter: treasury secretary timothy geithner told congress today that unless it acts, the nation will not be able to pay its bills sometime around mid- february or early march. so with a month of so to go, there is no solution in sight. darren gersh, washington, d.c. >> tom: federal reserve chairman ben bernanke echoed the president's comments on the debt ceiling today, in a speech at the university of michigan, he said congress has to take action to avoid a situation where our government doesn't pay its bills. ahead of that, stocks were mixed, the blue chip dow rose almost 19 points, while the nasdaq dropped eight, and the s&p 500 down a point. >> susie: weighing on the nasdaq today: apple. the stock got crushed, on wo
: markets are almost treating the fight over the debt ceiling as the sequel to a bad movie. and investors have a pretty good feel for how this cliffhanger ends. >> they don't really care about the brinksmanship until they are right up to the brink, but also, the more dangerous the fall, off the brink, they figure the less likely that it's going to happen. >> reporter: treasury secretary timothy geithner told congress today that unless it acts, the nation will not be able to pay its...
347
347
Feb 2, 2013
02/13
by
KQED
tv
eye 347
favorite 0
quote 0
so as congress agrees to delay a showdown over the debt ceiling and faces a march 1 deadline for across the board spending cuts, what to make of this darned economy, david? >> am i supposed to answer that? it is confusing. the stock market is up. employers are hiring, very slowly. the government now tells us that hey -- they hired a lot more last year than previously believed. auto seafls are up 14% from last year. housing sales are coming back. on the other hand the economy took a pause at the end of last year? unemployment is very high, 7.9%. among men between 25 and 54 one out of six is not working. so i think when you cut through all this what do you see? well, the stock market is going like this and the economy is going like this. that can't last. i can't explain the stock market except maybe there was a gigantic sigh of relief. the republicans aren't going to force the u.s. freshry due default and the europeans aren't going to blow themselves up economically. you see an economy that's growing -- slowly. growing is better than not growing. the europeans are trying the not growing t
so as congress agrees to delay a showdown over the debt ceiling and faces a march 1 deadline for across the board spending cuts, what to make of this darned economy, david? >> am i supposed to answer that? it is confusing. the stock market is up. employers are hiring, very slowly. the government now tells us that hey -- they hired a lot more last year than previously believed. auto seafls are up 14% from last year. housing sales are coming back. on the other hand the economy took a pause...
123
123
Jan 8, 2013
01/13
by
KQED
tv
eye 123
favorite 0
quote 0
>> the debt ceiling is likely to come first. the funny thing is at this point to some extent there aren't any external deadlines they absolutely have to meet. these are all created by washington. historically the debt ceiling was not an occasion for a big policy change. it became one in 2011, the republicans successfully made that happen. but they could easily extend the debt kreiling the way washington has in the past. in some ways the bigger thing is the sequester. it was supposed to be january 1, they pushed it back to march 1. substantial cuts. not overwhelming but substan tomorrow domestic programs and the military. most people don't want them take effect and the question is can they come up with something else that would bring down the deficit instead of across-the-board sequester cuts scheduled for march 1. >> rose: i watched over the weekend the talk shows and mitch mcconnell, the leader of the republicans in the senate said the tax question is off the table. we've dwelt that so we only will deal with spending now. >> it
>> the debt ceiling is likely to come first. the funny thing is at this point to some extent there aren't any external deadlines they absolutely have to meet. these are all created by washington. historically the debt ceiling was not an occasion for a big policy change. it became one in 2011, the republicans successfully made that happen. but they could easily extend the debt kreiling the way washington has in the past. in some ways the bigger thing is the sequester. it was supposed to be...
84
84
Oct 18, 2013
10/13
by
KQED
tv
eye 84
favorite 0
quote 0
debt today saying quote, the latest raise of the debt ceiling shows the government's incapability in improving solvency by economic and fiscal elements. >> they in 1995 pegged their currency to the dollar thinking the dollar was a stable anchor. they lost faith. >> reporter: there are fears china could sell a lot of u.s. treasuries that could spike interest rates sharply higher but those fears are unfounded. >> if the chinese sold a lot of it to someone else, it would push the price down, that the not in someone else's interest. >> reporter: they don't have many choices when it comes to investing large amounts of money. other countries don't have enough debt to buy. >> part of the frustration is they don't have a real easy alternative strategy for doing well in the world, other than holding u.s. financial assets and wanting to collaborate with the united states. >> reporter: sitill, it's clear they are trying to find alternatives. >> i've had private conversation with chinese leaders where instability in terms of bail juju outs, qe is of grave concern to the chinese. >> reporter: con
debt today saying quote, the latest raise of the debt ceiling shows the government's incapability in improving solvency by economic and fiscal elements. >> they in 1995 pegged their currency to the dollar thinking the dollar was a stable anchor. they lost faith. >> reporter: there are fears china could sell a lot of u.s. treasuries that could spike interest rates sharply higher but those fears are unfounded. >> if the chinese sold a lot of it to someone else, it would push the...
98
98
Jan 15, 2013
01/13
by
KQED
tv
eye 98
favorite 0
quote 0
but not until you take care of the debt ceiling and get that off the table. that was the president's principal message today and he got a lot of conversation about why not negotiate. he said he's to the going to. we'll leave it there at least for the time being. >> rose: what will the republicans do, will they shut down the government. >> no, not over the debt ceiling. they may over the continuing resolution this is not their best vehicle. my guess is what they will probably have to do is give him a short-term extension. and then see if the senate will go along. they being of course the house republicans and just try to prolong this fight for a while. they don't want to have-- not shutting down the government is really spooking the credit markets and everything that major talked about a moment ago. and how the president would handle short-term extension is another matter. i think that would back him into a corner. he also ran into a problem because both in response to major and in response to julianna goldman he said i'm not going to negotiate over this. if t
but not until you take care of the debt ceiling and get that off the table. that was the president's principal message today and he got a lot of conversation about why not negotiate. he said he's to the going to. we'll leave it there at least for the time being. >> rose: what will the republicans do, will they shut down the government. >> no, not over the debt ceiling. they may over the continuing resolution this is not their best vehicle. my guess is what they will probably have to...
49
49
Oct 8, 2013
10/13
by
KQED
tv
eye 49
favorite 0
quote 0
with respect to the debt ceiling. we have a speaker of the house saying i'm to the going to bring to the floor a continuing resolution that doesn't involve my own strong feelingses about health care and entitlement reform. so one won't bring anything to the floor. one won't negotiate. how do we get this thing settled? >> you want pie guess of how it ends. >> rose: yes, sir. >> i think they will agree to negotiate. that otherwise nothing is going to happen. and i think they will agree to negotiate perhaps about smaller things than mr. boehner and some of his colleagues want. but they will agree to negotiate something about the spending side of the budget. >> rose: you mean perhaps entitlement reform, those types of things. >> that would be wonderful. but it maybe the kind of thing that the president had suggested earlier, about changing the indexing of social security. it would be an entitlement reform. >> rose: so people are going to compromise where they are now and find some levels of agreement for temporary -- >> w
with respect to the debt ceiling. we have a speaker of the house saying i'm to the going to bring to the floor a continuing resolution that doesn't involve my own strong feelingses about health care and entitlement reform. so one won't bring anything to the floor. one won't negotiate. how do we get this thing settled? >> you want pie guess of how it ends. >> rose: yes, sir. >> i think they will agree to negotiate. that otherwise nothing is going to happen. and i think they...
530
530
Oct 2, 2013
10/13
by
KQED
tv
eye 530
favorite 0
quote 2
the debt ceiling have -- having far more implications for a host of things. there seems to be very little agreement at the moment that this is going to come to any conclusion soon. >> could the global ramifications of america defaulting on its debt be the thing that pushes these two sides, which are so far apart, to actually realize they have to cooperate? >> i think it probably will. i stress the word, "think." this.d enough to remember last time we had the argument over the debt ceiling, nearly everybody was saying this is a blast, this is a faint -- feint, too important to take up to the wire. markets around the world went crazy about it. everyone is even more entrenched this time. everyone has laid out their position. it is extraordinarily difficult to see how they reach agreement without flipping backwards on things they said to their own people. this is not just a battle between the republicans and the democrats. it is a battle between republicans as well, so it makes it more difficult to reach a conclusion. >> thank you, as ever. from instability in th
the debt ceiling have -- having far more implications for a host of things. there seems to be very little agreement at the moment that this is going to come to any conclusion soon. >> could the global ramifications of america defaulting on its debt be the thing that pushes these two sides, which are so far apart, to actually realize they have to cooperate? >> i think it probably will. i stress the word, "think." this.d enough to remember last time we had the argument over...
149
149
Jan 10, 2013
01/13
by
KQED
tv
eye 149
favorite 0
quote 0
the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to pick and choose which bills the feds will pay. >> even if it were clear that the treasury secretary could do that, pick and choose, the ability, the real ability to reprogram all of the software in treasury's computers which connect to all of the computer software in the various agencies is not something that can be done in ten minutes or ten days or ten weeks. so you have the right to do it, but you don't have the ability to do it. >> reporter: the treasury uses a separate computer system to make interest payments on the federal debt so it is possible investors would get what they are owed. but what happens with social security, medicare and federal employee pay, is less clear. so secretary lew would have to make a dec
the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to pick and choose which bills the feds will pay. >> even if it were clear that the treasury secretary could do that, pick and choose, the ability, the real ability to...
209
209
Jan 3, 2013
01/13
by
KQED
tv
eye 209
favorite 0
quote 0
ceiling ceiling increases it is the norm. 11 out of the 14 previous debt ceiling increases have legislation to affect the greater deficit with them. so we should recognize that's how it's going to end up. the president should put the legislation he wants on the table and we should go from there. we shouldn't have this silliness that somehow we're going to raise the debt ceiling and ignore the debt. >> brown: but i'm wondering now, you all three watched the economics of our political system and we saw judy's piece looking at a new congress. a lot of people are talking about a broken political system, looking at what just happened. >> it feels broken right now. it feels like we should have a political system that is not up to making difficult choices and solving hard problems. and compromising when it's so much easier to just pull back and start sort of playing the blame game. but this is too important. when we're talking about health care costs or the aging of society these are issues we know are there and we're going to disagree about the way to address them but you can't pretend we don't h
ceiling ceiling increases it is the norm. 11 out of the 14 previous debt ceiling increases have legislation to affect the greater deficit with them. so we should recognize that's how it's going to end up. the president should put the legislation he wants on the table and we should go from there. we shouldn't have this silliness that somehow we're going to raise the debt ceiling and ignore the debt. >> brown: but i'm wondering now, you all three watched the economics of our political...
109
109
Jan 17, 2013
01/13
by
KQED
tv
eye 109
favorite 0
quote 0
government to avoid defaulting on its debts even if the debt ceiling is not raised. >> and there is no reason for the government to default unless president obama and the democrats want us to. it's just a scare tactic to continue the spending that they don't want to address. that's why they keep saying, "oh, we're going to default. we're going to default. we're going to default." it's just not true. >> reporter: but talk like that scares many budget analysts in washington. they argue markets will see a failure by the unit ed states to pay any of its bills as a threat it could one day stop paying some or all of its bills, including interest on its debt. >> if we pay the chinese the interest we owe them on their sovereign debt holdings, on time and in full, but we don't pay social security recipients or armed services personnel their salaries, is that a default? well, of course it is. >> reporter: a recent inspector general's report found the treasury doesn't have the computer systems in prioritize some payments over others. so if the treasury runs short of cash, it would most likely del
government to avoid defaulting on its debts even if the debt ceiling is not raised. >> and there is no reason for the government to default unless president obama and the democrats want us to. it's just a scare tactic to continue the spending that they don't want to address. that's why they keep saying, "oh, we're going to default. we're going to default. we're going to default." it's just not true. >> reporter: but talk like that scares many budget analysts in washington....
106
106
Sep 22, 2013
09/13
by
KQED
tv
eye 106
favorite 0
quote 0
will he hold firm on the debt ceiling? if so, he prevails. if he waffles or engages in any kind of negotiations with the crazies, he will lose. >> the president has been on the back of the curve with syria, but this looks like will help him. >> absolutely. obama is a lucky guy in a way. he has been rescued by russians, republicans, now even the iranian seem to be on his side. the real point here is the threat of closing the government makes him look good and then the debt, but raising the ceiling is like carbon monoxide. it is actually more serious. it could put the country back into recession. >> you heard obama say this is unprecedented in american history that any party would attach stuff on the debt ceiling . post" looked at that and gave it the ultimate in pinocchio's. it started with ted kennedy, , 19 73, attaching a campaign finance reform to the debt ceiling. the post says there were 25 germanees of non- amendments attached and obama has the chutzpah to say never in the history of the species has this ever occurred. is, theifference c
will he hold firm on the debt ceiling? if so, he prevails. if he waffles or engages in any kind of negotiations with the crazies, he will lose. >> the president has been on the back of the curve with syria, but this looks like will help him. >> absolutely. obama is a lucky guy in a way. he has been rescued by russians, republicans, now even the iranian seem to be on his side. the real point here is the threat of closing the government makes him look good and then the debt, but...
70
70
Oct 9, 2013
10/13
by
KQED
tv
eye 70
favorite 0
quote 0
frankly, there should not where a debt ceiling. it's a silly an akronism that is only used by politician but to play -- to get this close to it to play to the point where there is a -- something close to a 50-50 possibility that we'll default is -- this is where the president does have the high ground. much more so than on the shutdown and i can't -- going back to what chuck said before, i can't quite understand john boehner here. there have been so many different john boehners it depends on the day of the week. he obviously is feeling tremendous pressure. i suspect he hates his job. and he probably realizes that okay if they do kick the can down the road for six or eight weeks, as chuck said earlier, what do you kick the a k down the road to do? the same problems that existed going back to that that supercommittee of two years ago. there's no deal to be had will there. republicans won't -- will only accept a deal that just involves entitlements and democrats say no way they'll do that and don't forget you have congressional democr
frankly, there should not where a debt ceiling. it's a silly an akronism that is only used by politician but to play -- to get this close to it to play to the point where there is a -- something close to a 50-50 possibility that we'll default is -- this is where the president does have the high ground. much more so than on the shutdown and i can't -- going back to what chuck said before, i can't quite understand john boehner here. there have been so many different john boehners it depends on...
125
125
Oct 4, 2013
10/13
by
KQED
tv
eye 125
favorite 0
quote 0
but let's start with some explanation about the debt ceiling. annie lowrey is a reporter for the "new york times" and joins us now. welcome back to the program. remind us what is the debt ceiling, why is it there? why is it needed? >> so it's a kind of secondary check on the amount that congress is spending. that's what it's designed to be. so every year congress decides the amount of deficit or surpluses they're going to run by deciding how much they'll spend and how much they'll take in in taxes and in the event they're running in the red-- as they generally are ---- treasury takes them and sells bonds on the bond market. so a debt limit is the cap on the total value of bonds treasury can sell. but the issue if that if the treasury can't raise that limit by itself, it needs congress to do it, if they don't have enough money to pay the bills they need to issue those bonds, they can't right now so it looks like they might have a cash crunch. the. >> woodruff: treasury has announced in the last few days that they expect the debt ceiling is going
but let's start with some explanation about the debt ceiling. annie lowrey is a reporter for the "new york times" and joins us now. welcome back to the program. remind us what is the debt ceiling, why is it there? why is it needed? >> so it's a kind of secondary check on the amount that congress is spending. that's what it's designed to be. so every year congress decides the amount of deficit or surpluses they're going to run by deciding how much they'll spend and how much...
144
144
Sep 19, 2013
09/13
by
KQED
tv
eye 144
favorite 0
quote 0
>> ifill: it sounds like he's more concerned about the debt ceiling battle than anything else? >> i think he's right. what ben bernanke fears most is the kind of thing the fed can't do anything about which is a financial crisis brought about not by external factors but self-induced by congress not playing games with the debt ceiling. >> ifill: let's play elephants in the room. because the question that he was going to be asked today and which, of course, he found a way not to answer which is -- about who's going to succeed him. but we don't know officially that he's leaving. >> that's right. his term is up january 31, he has studiously avoided even commenting on his own future plans. it's crystal clear to anyone who follows this stuff carefully that ben bernanke is planning to step down. his term is up at the end of january and now we're getting clear indications of what direction is president is leaning in appointing a replacement. it looks like janet yellen, the current vice chair of the fed to follow bernanke. >> ifill: let's talk about the people in line to replace bernanke
>> ifill: it sounds like he's more concerned about the debt ceiling battle than anything else? >> i think he's right. what ben bernanke fears most is the kind of thing the fed can't do anything about which is a financial crisis brought about not by external factors but self-induced by congress not playing games with the debt ceiling. >> ifill: let's play elephants in the room. because the question that he was going to be asked today and which, of course, he found a way not to...
124
124
Oct 23, 2013
10/13
by
KQED
tv
eye 124
favorite 0
quote 0
the debt ceiling -- it shouldn't exist, i mean, the way to have a ceiling on your debt is not to spend more -- >> rose: my idea of a debt ceiling is negotiating. >> but if you going to have it, it can't be used. i mean, we have nuclear weapons but we are not going to use them, even if we get disappointed but we say because this is happening not the way we want we are going to use a nuclear weapon. the debt ceiling is a political weapon of mass destruction and both parties should say it is off the table, we can argue about abortion and immigration, whatever it may be but we are not going to tie that to a threat to destroy a reputation that the united states has built up over 237 years so i would ask both political parties to say it is off the table. >> rose: do you think it is more likely they will be listening because of the close call we had here? >> i think maybe. you know, i always have hope in humans, and actually, senator mcconnell, who i don't agree on many things, but he has introduced in the past, i believe, something that at least -- it will reduce the chance that the debt cei
the debt ceiling -- it shouldn't exist, i mean, the way to have a ceiling on your debt is not to spend more -- >> rose: my idea of a debt ceiling is negotiating. >> but if you going to have it, it can't be used. i mean, we have nuclear weapons but we are not going to use them, even if we get disappointed but we say because this is happening not the way we want we are going to use a nuclear weapon. the debt ceiling is a political weapon of mass destruction and both parties should say...
125
125
Jan 16, 2013
01/13
by
KQED
tv
eye 125
favorite 0
quote 0
debt ceiling. >> narrator: early on, republican freshmen attended orientation sessions. republican strategist frank luntz ran one of them. >> and i asked the question, how many of you are going to vote for the debt ceiling? and only three or four of them raised their hands. and i said, if you vote for the debt ceiling, the people who put you in office are going to knock you out. >> if you vote for the debt ceiling, you're voting for your own death certificate, political death certificate. >> narrator: for his part, the president decided to try something new: personal politics. he figured he could connect to the republican leader, john boehner. >> obama told his staff, john boehner is a country club republican, a golf-playing, cigarette smoking deal-maker. >> narrator: the president invited boehner to play golf with him at andrews air force base. >> and afterward, they go back to the clubhouse, and they're having a drink; there's a photo op. and it's at that point when boehner says to the president, "hey, you know, on this debt ceiling stuff, we ought to do something big.
debt ceiling. >> narrator: early on, republican freshmen attended orientation sessions. republican strategist frank luntz ran one of them. >> and i asked the question, how many of you are going to vote for the debt ceiling? and only three or four of them raised their hands. and i said, if you vote for the debt ceiling, the people who put you in office are going to knock you out. >> if you vote for the debt ceiling, you're voting for your own death certificate, political death...
87
87
Jan 23, 2013
01/13
by
KQED
tv
eye 87
favorite 0
quote 0
at home. >> if you don't raise the debt ceiling now, or if you postpone this confrontation, if you say every 60, 90, or 100 days, we're going to again have the same kind of conversation about the debt ceiling, you will continue to have this sort of spike in policy uncertainty. you will continue to undermine the private sector. you will continue to delay investment and to reduce employment relative to what it would be otherwise. >> reporter: the debt ceiling extension would allow the treasury to pay the nation's bills through at least may 19. darren gersh, "n.b.r.," washington >> tom: the u.s. housing market had a quiet end to its best year since 2007. sales of existing homes fell unexpectedly in december by 1% down to a 4.94 million annual rate. analysts note the drop in sales is not entirely bad news because there were fewer homes on the market. inventories are at their lowest level in seven and a half years. sales were up in the northeast and western u.s. while they fell in the midwest and south. for the entire year, existing home sales saw their best year since 2007. >> tom: julia c
at home. >> if you don't raise the debt ceiling now, or if you postpone this confrontation, if you say every 60, 90, or 100 days, we're going to again have the same kind of conversation about the debt ceiling, you will continue to have this sort of spike in policy uncertainty. you will continue to undermine the private sector. you will continue to delay investment and to reduce employment relative to what it would be otherwise. >> reporter: the debt ceiling extension would allow the...
177
177
Feb 13, 2013
02/13
by
KQED
tv
eye 177
favorite 0
quote 0
concerned in this country. >> narrator: and cantor had that debt ceiling threat. if the president wouldn't cut spending, he and the new republicans would force the issue. >> we all saw the debt ceiling as the best lever we had to make some changes, to deal with the spending problem, to deal with, the big government problem. >> if the government were to fail to raise the debt ceiling, you would see an immediate panic in the market... >> white house showdown with house republicans... >> narrator: at the white house, treasury secretary timothy geithner knew just how serious cantor's threat was. >> geithner says, "we could trigger a depression worse than the 1930s. it will be indelible. it will be... it will last for generations." tim geithner is one scared secretary of the treasury. >> when secretary geithner and the rest of us spoke to the president, we were very clear. a default would be unprecedented in our country. it would absolutely lead to a serious downgrading of our credit rating. >> narrator: geithner said they had only weeks to act before the country ran o
concerned in this country. >> narrator: and cantor had that debt ceiling threat. if the president wouldn't cut spending, he and the new republicans would force the issue. >> we all saw the debt ceiling as the best lever we had to make some changes, to deal with the spending problem, to deal with, the big government problem. >> if the government were to fail to raise the debt ceiling, you would see an immediate panic in the market... >> white house showdown with house...